Tourism sector

Mexico is opening the doors to expert and successful investors in the field of tourism and offers legal security for their investments.

20/02/2008 ::

Mexico's Foreign Investment Law was approved with a vision of a modern Mexico, as well as to encourage the involvement of expert and successful investors in the field of tourism and offer legal security for their investments. The number of tourists visiting our country is increasing at an average rate of 3.7% a year.

Cultural, natural, and historical wealth

Mexico enjoys a privileged geographical situation, right next to the world's wealthiest nation, in a territory of tall mountains, desert and tropical areas and a broad range of flora and fauna, all flanked by the Pacific, the Atlantic and the Caribbean. In fact, its great historical and cultural wealth, along with its huge diversity of natural species means that Mexico is the world's fourth richest country in terms of flora and fauna, the first for reptiles, the fourth for birds and plants and tenth for butterflies, with reserves for a great many different animal species.

Tourism in Mexico stands out for its dynamism and its numerous and important knock-on effects economically, socially and culturally. Tourism is the world's biggest business generating a GDP of almost $3.6 billion USD in the year 2000, as well as 192 million jobs, which is no fewer than one job in ten. Approximately 680 million people travel every year, spending about $455,000 million dollars. Tourism, on a worldwide basis, is the third most important sector in terms of the currencies it provides, and absorbs 10% of total consumer spending.

Modern and dynamic sector

Mexico's contribution to Gross Domestic Product stands at 8.2%. Tourism is also one of the most modernized and dynamic sectors, and is the country's third biggest generator of foreign currencies. In the year 2000, Mexico welcomed more than 20 million tourists who spent more than $8,000 million USD to keep Mexico among the world's top ten tourist destinations. It holds first place in Latin America.

The main purpose of FONATUR, Fondo Nacional de Fomento al Turismo (National Fund for the Promotion of Tourism), is to promote and encourage investment in Mexico's tourist sector in coordination with the Secretariat of Tourism, the Secretariat of Foreign Relations and the Tourist Promotion Board, as well as other agencies.  

FONATUR has developed five Fully Planned Centers (CIPs  acronym as given in Spanish), in which the sum of approximately $1,548 million USD has been invested in infrastructure, and which offer many opportunities for investment. These centers are oriented mainly at the foreign market for sun and beach, golf and angling activities and conventions in the following areas:

In the 27 years since it was set up, FONATUR has helped attract investment in tourist-related business throughout the country by granting a total of $7,506 million USD in loans, generating an investment of $14,688 million USD for the building of 117,289 hotel rooms and 53,505 renovated rooms, which, in turn, created almost 340,000 jobs.

FONATUR can complement your investment through a Joint Investment Program, or support it through a Guarantee Program or Project Appraisal.

Places for investing in Mexico

There are a large number of alternatives that meet the requirements: colonial cities, and sun and beach, cultural, archaeological, ecological and adventure tourism, for example:

Colonial Centers.- San Miguel de Allende, Guanajuato; Real de Catorce, San Luis Potosí; San Cristóbal de las Casas, Chiapas; Oaxaca, Oaxaca; Zacatecas, Zacatecas, which have ex haciendas, convents and museums rich in Mexican culture.

Traditional Beach Resorts.- Acapulco, Guerrero; Manzanillo, Colima; Mazatlán, Sinaloa; Puerto Vallarta, Jalisco; Veracruz, Veracruz, with a range of sports and other fun activities and attractions.

Business Destinations.- Mexico City; Monterrey, Nuevo León; Guadalajara, Jalisco; León, Guanajuato, with the most modern Convention Centers. Fully Planned Centers, CIP's.- These destinations form the basis of a master plan that identifies three different areas - tourist, urban and ecological - where the necessary urban infrastructure and equipment are provided to increase the efficiency of services and the profitability of investments. Your investment will automatically be given a form similar to Title Insurance.

Soon you can invest in new, high quality tourist destinations promoted by FONATUR such as:

Escalera Náutica (Nautical Stairway), a Nautical Project that extends to the states of Baja California, Baja California Sur, Sonora and Sinaloa. Its main aim is to attract yacht owners from the southern US and will involve the construction of 22,850 slips.

Costa Maya (Mayan Coast), Tourist Real Estate Development in the south of the state of Quintana Roo, where there are plans to build 9,500 hotel rooms, a marina with 130 slips and five 18-hole golf courses for top level tourism.

Riviera Maya (Mayan Riviera), Project to reorganize the area to the south of the town of Cancun in Quintana Roo. Its aim is mainly to attract tourism from Europe and Latin America. This project includes plans to build 67,666 hotel rooms and 6,500 slips.

Barrancas del Cobre (Copper Canyon), in Chihuahua, a project with low impact on the environment, aimed at adventure tourism, with 3,490 rooms planned.

Palenque-Cascada de Agua Azul, project in the state of Chiapas that covers the archaeological sites of Palenque, Bonampak and Yaxchilán and the natural areas of Agua Azul and Playas de Catazaján. The project includes plans to build 8,350 hotel rooms. Aimed at cultural, adventure and ecological tourism.

Resposible tourism
Also resposible tourism has been promoted in Mexico. Two new world heritage conservation programmes have been launched to help benefit and help preserve the Yucatan Peninsula world heritage sites, for tourists who travel to the sites and the local communities.

The programme, which is a part of the World Heritage Alliance Expedia, the United Nations Foundation will work with local communities towards enhancing sustainable tourism in Sian Ka'an, near the resort of  Cancun, according to G Net news centre.

World Heritage Alliance also plan to establish an industry training at four locations in the Yucatan Peninsula, namely Campeche, Merida, Cancun, and the Riviera Maya.

Further information: Fonatur (www.fonatur.com.mx), Consejo de Promoción Turística (Tourist Promotion Board) (www.visitmexico.com) and SECTUR (www.sectur.gob.mx).

Source: Bancomext